JIFIX International Value Fund

Defensive-minded specialists aiming to identify undervalued international opportunities

NAV
$8.80
As of 09/25/2020

1-Day Change
$0.05 (0.57%)
As of 09/25/2020

YTD Return
-14.81%
As of 09/25/2020

Overview

ABOUT THIS FUND

As defensive value specialists, we look to invest in high-quality companies with strong management teams, stable balance sheets, and durable competitive advantages that are trading at attractive valuations. We seek to achieve excess returns over full market cycles, with less risk than our benchmark and peers as measured by standard deviation, beta and down market capture.

WHY INVEST IN THIS FUND

Attractive Reward/Risk
Our disciplined valuation process measures downside risk before upside potential and invests in securities with favorable reward/risk ratios.

High-Conviction Process
The portfolio typically holds between 60 to 90 stocks with business fundamentals considered more important than fluctuations in the wider economy.

Different Than the Benchmark
The benchmark is not used as a starting point for portfolio construction, which should lead to high active share.

Knowledge. Shared

At Janus Henderson, we believe in the sharing of expert insight for better investment and business decisions.

We call this ethos Knowledge. Shared.

PORTFOLIO MANAGEMENT

Gregory Kolb, CFA

Chief Investment Officer | Portfolio Manager

Industry since 1998. Joined Firm in 2010.

George Maglares

Portfolio Manager | Research Analyst

Industry since 2004. Joined Firm in 2013.

Performance

RETURNS (%) (As of 06/30/2020)
International Value Fund - Class I Shares MSCI EAFE® Index MSCI EAFE Value Net (USD)
 
3M YTD 1YR 3YR 5YR Since Inception
(04/01/2013)
International Value Fund - Class I Shares 10.15 -17.04 -10.92 -2.88 -0.45 1.95
MSCI EAFE® Index 14.88 -11.34 -5.13 0.81 2.05 3.72
MSCI EAFE Value Net (USD) 12.43 -19.27 -14.48 -4.43 -1.59 1.13
RETURNS (%) (As of 08/31/2020)
International Value Fund - Class I Shares MSCI EAFE® Index MSCI EAFE Value Net (USD)
 
3M YTD 1YR 3YR 5YR Since Inception
(04/01/2013)
International Value Fund - Class I Shares 6.10 -12.49 -1.81 -1.99 1.29 2.64
MSCI EAFE® Index 11.26 -4.61 6.13 2.34 4.72 4.66
MSCI EAFE Value Net (USD) 9.84 -14.38 -3.24 -3.40 0.79 1.91
CALENDAR YEAR RETURNS (%)
International Value Fund - Class I Shares MSCI EAFE® Index
 
  2014 2015 2016 2017 2018 2019
International Value Fund - Class I Shares -3.36 -0.79 0.62 22.85 -13.40 17.37
MSCI EAFE® Index -4.90 -0.81 1.00 25.03 -13.79 22.01

MORNINGSTAR PERCENTILE

(As Of 06/30/2020)
1 YR 3 YR 5 YR 10 YR SINCE INCEPTION
Percentile Ranking 48 43 44 - 38
Foreign Large Value Category|Rank/Count 184/336 115/319 107/299 -/- 100/273
(As Of 08/31/2020)
1 YR 3 YR 5 YR 10 YR SINCE INCEPTION
Percentile Ranking 61 51 69 - 41
Foreign Large Value Category|Rank/Count 243/346 148/329 197/312 -/- 119/282
GROWTH OF A HYPOTHETICAL INVESTMENT

RETURNS-BASED STATISTICS (As of 08/31/2020 Class I Shares)

RISK / REWARD
VS. MSCI EAFE® Index
3YR 5YR
Information Ratio -1.23 -0.87
Alpha -4.11 -2.79
Tracking Error 3.52 3.94
Beta 0.95 0.88
R-squared (%) 94.79 92.46
UP/DOWN MARKET CAPTURE (%)
VS. MSCI EAFE® Index
3YR 5YR
Up Capture Ratio 78.34 77.24
Down Capture Ratio 99.51 93.38
STANDARD DEVIATION 3YR 5YR
International Value Fund 14.96 13.01
MSCI EAFE® Index 15.41 14.16
SHARPE RATIO 3YR 5YR
International Value Fund -0.24 0.01
MSCI EAFE® Index 0.04 0.25
ANNUAL FEES & EXPENSES (As of Fiscal Year End, 09/30/2019)
CLASS I SHARES
Management Fees 0.80%
12b-1 Fees -
Other Expenses 0.68%
Total Gross Expenses 1.48%
Waivers -0.51%
Total Net Expenses 0.97%

Portfolio

Index represents the MSCI EAFE® Index.

Top Holdings (As of 08/31/2020)
% of Fund
Unilever NV 4.31
BAE Systems PLC 4.27
Novartis AG 4.13
Sanofi 3.83
Danone SA 3.62
Roche Holding AG 3.56
Hyundai Motor Co 3.34
Bayerische Motoren Werke AG 3.07
Honda Motor Co Ltd 3.03
Nestle SA 3.01
Total 36.17
View full holdings
Portfolio Characteristics (As of 08/31/2020)
  FUND INDEX
Number of Holdings
Equity Issues
68 900
Market Capitalization
Weighted Average
$60.86B $66.49B
Portfolio Turnover Rate
(1-year trailing)
14.78% -
Price/Earnings Ratio
(1-year forward)
17.40 25.64
Price/Book Ratio
(1-year forward)
2.47 3.55
Earnings Growth Rate
(1-year forward)
-14.20% -17.81%
Sector Allocation % OF FUND % of Index % OF FUND % of Index (As of 08/31/2020)
Industrials 20.18 14.99
Consumer Staples 17.55 11.76
Health Care 17.24 13.88
Consumer Discretionary 13.52 11.67
Materials 7.96 7.56
Communication Services 5.80 5.41
Real Estate 3.99 3.16
Financials 3.87 16.01
Information Technology 3.52 8.44
Energy 1.73 3.14
Utilities 0.91 3.98
Cash & Equivalents 3.73 -
Regional Allocations % OF FUND % of Index % OF FUND % of Index (As of 08/31/2020)
Europe 60.96 62.16
Japan 16.42 25.04
Asia/Pacific Ex Japan 15.51 11.94
North America 3.38 0.23
Cash & Equivalents 3.73 -
MARKET CAPITALIZATION RANGE OF EQUITY HOLDINGS % OF FUND % OF INDEX % OF FUND % OF INDEX (As of 08/31/2020)
Over $100B 15.07 18.24
$50B to $100B 10.62 21.40
$10B to $50B 39.78 46.40
$5B to $10B 2.29 10.56
$1B to $5B 21.50 2.75
$500M to $1B 2.58
$250M to $500M 2.64
$100M to $250M 1.13
Under $100M 0.66
Developed VS Emerging Markets % OF FUND % of Index % OF FUND % of Index (As of 08/31/2020)
Non-U.S. Developed 85.71 99.42
Non-U.S. Emerging 8.78 0.35
U.S. 1.78 0.23
Cash & Equivalents 3.73 -

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